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API investors warned...

APPOINTMENT OF CFO

Australian Pharmaceutical Industries Limited (ASX Code: API) today announced that Mr Graeme Fallet will join the company as its Chief Financial Officer, succeeding Ashley Killick who will leave the business for personal reasons.


Mr Fallet will join API on 7 September 2009. During a short transitional period, Mr Killick will oversee the completion of the company’s 2009 annual accounts.


“I am pleased that we have found such an experienced finance executive in Graeme to succeed Ashley. To be an effective manager in this sector requires considerable experience and specialist expertise.” Mr Roche said.


Mr Fallet’s immediate past role was as Chief Financial Officer of listed company Ventracor Limited